TABLE 68.—Agriculturists—distributed according to their present annual salaries and the number of years since graduation TABLE 69.-Other professional workers—distributed according to their present annual salaries and the number of years since graduation Per cent TABLE 70.—Employees in banking and finance-distributed according to their present annual salaries and the number of years since graduation 12 TABLE 71.-Insurance employees-distributed according to their present annual salaries and the number of years since graduation TABLE 72.—Employees in commerce and business—distributed according to their present annual salaries and the number of years since graduation Number of individuals, by years since graduation Annual salary group Total individuals Per cent Table 73 shows the distribution of graduates now employed in commerce and business, exclusive of those in banking, finance, and insurance, according to average annual salaries, years since graduation, and with normal salaries calculated from the data.* TABLE 73.-Employees in commerce and business, not including those in either banking and finance or insurance, distributed according to their present average annual salaries and the number of years since graduation, with normal salary values calculated from the data When the curve of calculated normal salaries is drawn for commerce and business employees it becomes apparent that graduates with two years of experience earn nearly $450 more than those who have been out of college only one year. The difference between the second and third year decreases to $285. Thereafter the annual differences increase until the maximum $518 occurs between the fifth and sixth years. Annual increments diminish from that point onward. Employees in the commercial world who have been out of college only one year earn more than $100 less per annum than engineers with The formula for this group developed by Dr. George W. Hervey was: Average salary equals 100,000 (number of years graduated) $123.5433 plus $5.02933 (years graduated) minus (85.144) (0.8439) (years graduated). corresponding experience, but the data indicate that beginning with the 5-year group the superiority lies on the side of the commercial employees. The differences in favor of the latter group increase from nearly $400 at 5 years to more than $2,000 in the case of graduates of 20 years or more. With such high salary scales in the commerce and business group, wide variability above and below normal salaries is to be expected, especially for the older graduates. This variability is shown in Table 74. TABLE 74.—Variability of salaries of employees in commerce and business about the normal salary trend Comparison of this table with similar tables for college instructors (Table 48) and engineers (Table 59) will reveal interesting and significant relations that can not be discussed in the space allotted to this study. |